If you are a job and your wife is a homemaker, you will definitely be preparing a plan for the future. If you want your wife not to depend on anyone for money in the future, you can arrange regular income for your wife. In the name of your wife, you can open a New Pension System (NPS) account. The NPS account will give your wife a lump sum amount on completion of the age of 60 years. They will also have regular income as pension every month. With the NPS account, you can also decide how much pension your wife will get every month. This will not depend on anyone for money after the age of 60.
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You can open a New Pension System (NPS) account in the name of your wife. You can deposit money every month or annually at your convenience. You can open an NPS account in the name of a wife from Rs 1,000. Nps account becomes mature at the age of 60 years. Under the new rules, you may want to run an NPS account till the wife is 65 years old.
For example, your wife is 30 years old and you invest Rs 5000 per month in their NPS account. If they get 10 per cent return annually on investment, their account will have a total of Rs 1.12 crore at the age of 60 years. They will get about Rs 45 lakh out of this. In addition, they will get pension around Rs 45,000 per month. This pension will continue to be available to them for life.
